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GLOBAL MARKET ROUND UP

Gold headed for its first back-to-back weekly loss in more than two months on concerns that the Federal Reserve may take longer to cut interest rates than previously expected as inflation risks persist.

Data on Thursday showed labor costs jumped the most in a year as productivity gains slowed, adding to price pressures. Fed Chair Jerome Powell said Wednesday policymakers need more evidence that price gains are cooling before reducing borrowing costs.

Crude oil prices declined further on Thursday due to signs of easing geopolitical risks in the Middle East and weakness across fuel markets. Hamas is studying a proposal for a temporary cease-fire with Israel and plans to send a delegation to Egypt to continue negotiations.

Due to the Chinese markets' closure for a public holiday, base metals continued to decline in a session with low trading volume

Investors are looking ahead to today’s US nonfarm payroll data for clues on the timing of future interest rate cuts by the Federal Reserve. Economists surveyed forecast a 240,000 gain in payrolls, which would be the slowest pace since November

Gold

Trading Range: 70080-70980

Intraday Trading Strategy : Sell Gold Mini Jun Fut at 70750-70800 TGT 70350 SL 71000

Silver

Trading Range: 80300-81950

Intraday Trading Strategy : Buy Silver Mini Jun Fut at 81250-81300 TGT 81780/81950 SL 80780.

Crude Oil

Trading Range: 6480-6700

Intraday Trading Strategy : Sell Crude Oil May Fut at 6660-6665 TGT 6580/6550 SL 6720

Natural Gas

Trading Range: 156-174

Intraday Trading Strategy : Buy Natural Gas May Fut at 165 TGT 174 SL 159.80

Copper

Trading Range: 836-859

Intraday Trading Strategy : Buy Copper May Fut at 844.80 TGT 850/856 SL 839

Zinc

Trading Range: 247-259

Intraday Trading Strategy : Sell Zinc May Fut at 256.8 TGT 252.80/250.0 SL 259.80

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